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Analysis Component: Prepare two different journal entries, that might have created the July 31, 2020, balance in Revenue of $113,900. Use July 31, 2020, as
Analysis Component: Prepare two different journal entries, that might have created the July 31, 2020, balance in Revenue of $113,900. Use July 31, 2020, as the date for your entries.
Acct. No 101 106 128 163 173 183 201 230 301 302 401 623 645 Feline Pet Care Trial Balance July 31, 2020 Account Title Cash Accounts receivable Prepaid insurance Equipment Building Land Accounts payable Unearned revenue Dwight Turnbull, capital Dwight Turnbull, withdrawals Revenue Wages expense Equipment rental expense Advertising expense Pet food expense Totals Debit Credit $ 22,900 11,500 12,400 18,100 191,000 135,000 $ 15,440 91,500 291,760 4,900 113,900 57,000 33,000 9,100 17,709 $512,600 $512,600 655 684 Required: Using the trial balance provided above, prepare an income statement and statement of changes in equity for the first year ended July 31, 2020, and a balance sheet at July 31, 2020. FELINE PET CARE Income Statement For Year Ended July 31, 2020 Revenues: Operating expenses: Total operating expenses FELINE PET CARE Statement of Changes in Equity For Year Ended July 31, 2020 Dwight Turnbull, capital, August 1 Total Dwight Turnbull, capital, July 31 FELINE PET CARE Balance Sheet July 31, 2020 Assets Liabilities $ Total liabilities Equity Total assets Total liabilities and equity Journal entry worksheet Record receipt of cash for completing work for clients. Note: Enter debits before credits. General Journal Debit Credit Date July 31, 2020 Record entry Clear entry View general journal Journal entry worksheet Record the work completed for clients on account. Note: Enter debits before credits. General Journal Debit Credit Date July 31, 2020 Record entry Clear entry View general journalStep by Step Solution
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